ECB's Jazbec says no need to change quantitative easing

LJUBLJANA (Reuters) - The European Central Bank's money printing program is working and there is no need to change it now, ECB Governing Council member Bostjan Jazbec said on Thursday.

"The framework of quantitative easing is the key and this framework still works and will work till we get better, more detailed data that would point toward a possible change in operations," said Jazbec, who heads the Slovenian central bank.

"At this moment, there is no need to change anything," he told reporters on the sidelines of a banking conference.

Jazbec added that governments' fiscal and investment policies must complement the ECB's quantitative easing.

"Those policies are a key for the working of the monetary policy of the ECB and ... ensuring sustainable economic growth," he said, adding that monetary policy always works with a lag.

The ECB said last month there was a growing risk that inflation would undershoot its near 2 percent target in 2017 and that it stood ready to modify the size, composition or duration of the 1 trillion euro plus QE program it launched in March.

(Reporting by Marja Novak; Editing by Catherine Evans)

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